First Merchants Bank $300/$750 – MI

Offer at a glance

• Maximum bonus amount: $300/$750
• Availability: MI
• Direct deposit required: No
• Additional requirements: Deposit $5,000-$15,000
• Hard/soft pull: Soft pull 
• ChexSystems: Yes
• Credit card funding: Yes, up to $1,000 with a Visa or Mastercard
• Monthly fees: $20, avoidable 
• Early account termination fee: $50, bonus forfeit 
• Household limit: None 
• Expiration date: 12/31/26

The Offer

Direct link to offer

• First Merchants Bank is offering a $750 bonus when you open a new business checking account.
  • Make a minimum of $15,000 in total new deposits within 7 calendar days to qualify for $750 bonus cash OR
  • Make a minimum of $5,000 in total new deposits within 7 calendar days to qualify for $300 bonus cash

The Fine Print

• To qualify, you must be a new FMB business checking client. Existing business checking customers or those who have closed an FMB business checking account within 12 months of the offer start date (on or after 3/1/26) are not eligible.
• The primary account holder must be at least 18 years old. FMB employees are not eligible. This offer is limited to one per client and is not valid for Public Funds, Estate accounts, U.S. Government entities, other banks, or financial institutions.
• To earn this offer you must ask an FMB banker to enroll you in the “MICH-BUS Checking Offer” when opening a new Basic Business Checking account between 3/1/26, and 12/31/26.
• You can earn $750 when you deposit at least $15,000 within the first 7 calendar days of account opening OR earn $300 when you deposit at least $5,000 within the first 7 calendar days of account opening.
• The account must maintain a $5,000 monthly average collected balance or a $20 monthly service fee will apply.
• If all qualifications are met, the offer will be credited to the new account in the sixth month following account opening and will appear on your statement as “New Checking Offer Reward.”
• FMB may report the reward value to the IRS as required, and any taxes are the recipient’s responsibility.
• Offer is awarded at FMB’s sole discretion.
• If the account is closed by you or FMB within 6 months of opening, you may be charged up to the full offer amount ($750 or $300) and a $50 early closing fee. This offer may change or be discontinued at any time.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

This account has a $20 monthly fee that is waived if you:

• Maintain an average monthly collected balance of at least $5,000

Early Account Termination Fee

Bonus forfeit and $50 fee is charged if closed within six months 

Our Verdict

There is also a $400/$600 personal checking bonus. 

Hat tip to reader Brad

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